Tax Advisory Services: A Look into Indirect Tax Assessment
Indirect taxes have an extensive contribution to the revenue of the government. In recent times, indirect tax collection has overtaken the direct tax collections. As different indirect taxes integrate into GST, the accumulation is likely to be higher. India is a federal country. Tax advisory services have adopted dual Goods and Service Tax (GST) with a four-rate structure to protect the interest of this country. It is an endeavour to meet the requirements of every Indian state. As the Government of India is proactively addressing the transitional challenges, several concessions and exemptions are adapted as a part of the GST system. GST Amendments There have been consistent clarifications and amendments in the law of GST. It requires regular monitoring of the changes affecting businesses, which may also call for changes in the processes and systems. Financial advisory services are equipped with the knowledge and expertise to address such changes. Businesses should be aware